LPL Financial (NASDAQ:LPLA) Downgraded to Sell at StockNews.com

by · The Markets Daily

StockNews.com downgraded shares of LPL Financial (NASDAQ:LPLA – Free Report) from a hold rating to a sell rating in a research report released on Tuesday morning.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group cut their target price on LPL Financial from $289.00 to $271.00 and set a buy rating on the stock in a research report on Thursday, September 26th. JMP Securities lifted their target price on shares of LPL Financial from $305.00 to $310.00 and gave the stock a market outperform rating in a research report on Friday, July 26th. Bank of America upgraded shares of LPL Financial from a neutral rating to a buy rating and set a $268.00 price target on the stock in a report on Tuesday, July 30th. Barclays decreased their price objective on shares of LPL Financial from $313.00 to $273.00 and set an overweight rating for the company in a research note on Friday, July 26th. Finally, Wells Fargo & Company assumed coverage on shares of LPL Financial in a research note on Thursday, September 12th. They set an equal weight rating and a $235.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $271.69.

View Our Latest Analysis on LPL Financial

LPL Financial Price Performance

NASDAQ:LPLA opened at $243.02 on Tuesday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77. The business’s 50-day moving average price is $216.72 and its 200 day moving average price is $249.44. LPL Financial has a 52-week low of $187.19 and a 52-week high of $289.88. The firm has a market cap of $18.16 billion, a P/E ratio of 18.35, a PEG ratio of 1.27 and a beta of 0.88.

LPL Financial (NASDAQ:LPLA – Get Free Report) last released its earnings results on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.66 by $0.22. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.94 EPS. As a group, sell-side analysts predict that LPL Financial will post 15.88 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.20 annualized dividend and a yield of 0.49%. LPL Financial’s dividend payout ratio (DPR) is currently 9.06%.

Institutional Trading of LPL Financial

Several large investors have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its holdings in LPL Financial by 15.1% in the 3rd quarter. SG Americas Securities LLC now owns 5,578 shares of the financial services provider’s stock worth $1,298,000 after purchasing an additional 732 shares during the last quarter. Mattson Financial Services LLC acquired a new stake in shares of LPL Financial in the second quarter worth $450,000. Anchor Investment Management LLC boosted its holdings in shares of LPL Financial by 8.6% during the 2nd quarter. Anchor Investment Management LLC now owns 8,365 shares of the financial services provider’s stock worth $2,336,000 after buying an additional 664 shares during the period. Sanctuary Advisors LLC acquired a new position in LPL Financial in the 2nd quarter valued at $3,478,000. Finally, Brown Financial Advisors bought a new position in LPL Financial in the 2nd quarter worth $310,000. Institutional investors own 95.66% of the company’s stock.

LPL Financial Company Profile

(Get Free Report)

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.

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